Solar products maker ReneSola offers shares at $4.75 per share

ReneSola prices share offering at $4.75

JIASHAH, China — Chinese solar product maker ReneSola Ltd. said Wednesday that its public offering of 15.5 million American depositary shares has been priced at $4.75 per share. The news sent the company’s stock tumbling by nearly 8 percent.

The offer is expected to close Monday. The company has granted the underwriters a 30-day option to buy up to an additional 2.3 million shares.

The company said it intends to use the money for general corporate purposes and to repurchase convertible bonds due in 2012. The company said the bonds total $99 million as of June 30.

ReneSola shares were down 42 cents to $4.90 in trading Wednesday afternoon. The shares have traded between $2.02 and $11.70 over the past year.